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Financial planning

For a growth company, advance financial planning is also a tool for assessing risks.  When risks are measurable, they can also be managed better.

The amount of the required financing is one of the determining factors when choosing a financing solution. The company's financing requirements usually become clear as it updates its business and investment plans. My Enterprise Finland service provides an electronic tool for preparing and maintaining business and performance plans. Business and performance plans must also be attached to the financing application submitted to Finnvera.

When planning for growth, you should also ensure the adequacy of cash assets. A drop in liquidity can easily lead to problems in an SME even if the company would otherwise be on a profitable basis. Read more about how to prepare case flow calculations at Suomi.fi > Cash flow statements.

Guarantee for a bank loan

If you are seeking a loan from a bank but do not have the collateral required by the bank, a partial guarantee provided by Finnvera may be the solution.

SME Guarantee is inteded for growth seeking SMEs and banks apply for it on their customers' behalf. We will normally process the SME Guarantee applications filed by the bank within three working days. Then we will inform the bank of our financing decision. The loan and repayment terms are in accordance with the loan agreement concluded with the bank.

The minimum amount for an SME Guarantee and also other guarantees by Finnvera is 10.000 euros. The maximum amount for an SME Guarantee is 120.000 euros.

Read more: SME Guarantee

If Start Guarantee is not applicable for you financing need, other guarantees by Finnvera can be applied for easily and securely through our Online Service.

Read more: Guarantees

Loan financing

You can also apply for a loan from Finnvera. The financing requirement determines whether Finnvera can act as the only provider of funding or whether other sources and sufficient self-financing are also needed. The financing requirement usually becomes clear when you prepare a business plan for your company.

If more than 50,000 euros is required, other providers of financing (usually a bank) and sufficient self-financing are also needed.  In company acquisitions, the seller may also provide some of the funding.

The minimum amount for Finnvera’s loan financing is 30,000 euros (50,000 euros starting 2 Jan 2020). Entrepreneur Loan and Bridge Financing are exceptions to this rule and the minimum amount for them is 10,000 euros. (The minimum amount for Bridge Financing is also 50,000 euros starting 2 Jan 2020.)

Read more: Loans

Financing contributions and self-financing

Finnvera's co-financing rate is case-specific. When an SME Guarantee is used, Finnvera’s guarantee coverage is always 80%.

When other financing solutions are being used Finnvera's contribution (financing provided as a loan or a guarantee) will usually be 50% of all external financing (Finnvera + bank). In projects involving growth companies and internationally oriented and innovative enterprises, Finnvera can temporarily act as the main provider of financing, supplying more than 50% of the loans and guarantees. In case of a project requiring pre-delivery financing Finnvera's share of financing could be as high as 80%.

Self-financing

The self-financing requirement depends on the content of the project.  In investments, Finnvera typically requires that 10–20% of the funding is provided as self-financing, while in company acquisitions and generational transfers the requirement is 20%.

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